By Inti Pacheco
Nike shares fell 6% after President Trump announced reciprocal tariffs of 46% on Vietnam, 32% on Indonesia and 34% on China. Suppliers in Vietnam, Indonesia and China make 95% of the sneaker company's manufactured goods.
Like most U.S. footwear brands, Nike has long relied on Asia factories to produce its products. Nike had shifted away from China as its main manufacturing partner to countries like Vietnam and Indonesia.
Shares of Skechers, Deckers, Crocs also fell on the news.
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(END) Dow Jones Newswires
April 02, 2025 16:59 ET (20:59 GMT)
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